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AL HB290
Bill
Status
1/25/2018
Primary Sponsor
Steve Clouse
Click for details
AI Summary
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Increases initial and renewal registration fees for agents from $60 to $70 and for investment adviser representatives from $60 to $70.
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Adds a new filing fee bracket for open-end management investment companies with total net assets equal to or greater than $250,000,000, establishing a nonrefundable filing fee of $2,000 for such companies.
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Deposits all registration fees from investment advisers and investment adviser representatives into the Alabama Securities Commission Fund in the State Treasury for administration of securities regulations.
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Effective on the first day of the third month following passage and approval by the Governor.
Legislative Description
Securities, registration fees for agents and investment advisor representative increased, filing fees for certain management investment companies revised, Secs. 8-6-3, 8-6-10 am'd.
Securities Commission
Last Action
Read for the first time and referred to the House of Representatives committee on Ways and Means General Fund
1/25/2018